Source: PaxForex Premium Analytics Portal, Technical Insight
USD/CAD is consolidating under 1.2600.
USD/CAD,D1
Pivot: 1.2571
Analysis:
Provided that the currency pair is traded above 1.2380, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2571
- Take Profit 1: 1.2750
- Take Profit 2: 1.2880
Alternative scenario:
In case of breakdown of the level 1.2380, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2380
- Take Profit 1: 1.2250
- Take Profit 2: 1.2130
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 1.3030 | 1.2380 |
| 1.2880 | 1.2250 |
| 1.2750 | 1.2130 |
